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Nov 28, 2012 6:30pm PST
" is the first installment of peter jackson's latest trilogy. >> not shabby. >> that looks pretty good. we are going to go to a break right now. when we come back, spain is set to get some crucially needed aid from the eu, for example. >> the block is also taking action to curb the influence of the big three ratings agencies. we will explain next. >> thanks so much for staying with us. >> welcome back. four struggling spanish banks will receive nearly 40 billion euros from the e you rescue fund. >> the commission has approved restructuring plans for the four nationalized banks, including spain's fourth largest lender. banks will have to cut jobs and reduce their balance sheets by 60%. >> the eu's commissioner for competition announced the decision. good news for his struggling countrymen. >> the funds come from the european stability mechanism. they have been freed up for spain. in total, it is 37 billion euros. >> the ngc banco and bfa bankia will get funds. but it comes with conditions -- the banks agreed to a tough restructuring plans, including the closings of hundreds of branches.
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